Taiwan Financial Asset Service Corp has secured its first-ever government-run urban renewal project — positive news on the business-expansion front for the state-owned asset management company, and a sign for existing residents in Wenshan District that their living environment is about to be rebuilt and renewed.

• Taiwan Financial Asset Service Corp was selected as the preferred applicant to fund the "Wenshan Jing" government-run urban renewal project in Taipei's Wenshan District, with the New Taipei City Housing and Urban Renewal Center serving as implementer.
• The plan calls for an investment of NT$750 million to build a residential tower of 14 floors above ground and two below, with 68 units and a future asset value projected to reach NT$1.4 billion.
• The site is in the Wansheng Street area, immediately adjacent to Wenshan Forest Park and close to the MRT's Roosevelt Road axis, linking the Gongguan, Xindian and Muzha living areas.
• The site is a long, narrow slope with a large elevation difference; construction will use partial top-down methods and balance earthworks on site to reduce excavation and the impact on traffic in the surrounding lanes and alleys.
• For the relocation of existing residents, Taiwan Financial Asset Service Corp will provide its own housing stock and matching through its rental management and sublease services, with the goal of returning residents to the site on schedule.

Outlook: The project now moves on to unit selection, submission of the plan for review, and demolition and relocation work, with completion expected in 2033 at the earliest.